Thursday, January 26, 2012

The STOCK Act, authored by Sens. Kirsten Gillibrand (D-N.Y.) and Scott Brown (R-Mass.), would ban trading by members of Congress guided by nonpublic economic or political information. It would also improve disclosures of all stock trades and other financial maneuvers by members of Congress, by requiring them to publicly detail each transaction within 30 days. Lawmakers are currently granted a full year of secrecy before disclosing such financial activities.